Realistically, when do you think you can retire?

I just refinanced at 2.25% so there so way I’ll pay it off early. If I had a higher interest rate, I’d look into it. We may see 0% or negative rates with the way things are going.

 

I am paying mine early, but my wife and I are older.

 

The more I think about it, the people that ask themselves the question on paying off the house early in this thread, really don't need to worry one way or the other.

We kind of are a very small segment of the population.

We are somewhere in the area of 100th or 1000th of a percent of the population. Probably closer to a 1000th. We are the exception.

 

I've always at least paid an extra payment per year just to get ahead of it. Since getting some extra cash freed up over the years we've been more aggressive so in theory my wife can retire early

 

Same thing as whether people in this thread will ever really retire. Probably not, maybe just get to the point that you can do what you want to do.

 

I know! We are on track to have twice as much at 80 as now at 53. I don't want that!

 

very much agree

i don’t understand that math

 

I’m 25, y’all making me rethink about my life. About kids, investing and etc. Currently a contract worker... no 401k pension or anything like that. I have no degree just a normal blue collar worker with experience in manufacturing.

I think I’ll be working for the rest of my life. Unless I changed my lifestyle

 

Well it is a balance. Retire early enough to enjoy life!!

 

^^This^^

 

Yup. If at 22 you invest $2000 a year until 33 you'd have about 700K for retirement if you put not another dime in after 33. The younger the better honestly even if you drop in a small amount it's something.

Never too late as @memario1214 said but earlier the better.

My parents always were "gonna" do things. They're very frugal people who don't live an excessive life..after I moved out I used to tell them go do things for yourselves now you earned it.

 

Yep. 26 years of paying into the retirement as much as I could. Others were taking 2 expensive vacations a year. I took a vacation every other year.

I'm done working and Im on vacation forever at 53.

 

I wasn't doing it in my 20s, sadly..bad habits and the fallout of those. But I'm pretty aggressive now with it.

I just hit 20 years service time, which means I'm guaranteed my pension once I hit 55..I can wait longer if I choose to. The company isn't funding pensions starting next year but it's separate from my 401K and I don't add anything to the pension. One reason I've stayed through the years.

 

Sounds like a win. No reason to stay longer than you need to.

Most places no longer fund a pension.

 

Yup and a few years ago they stopped it for new hires. I have 8 years to reach age 55 so time to figure it out. Ideally I'll be able to move out of the area by then so draw that pension and get another job, plus live mortgage free

 

You don't have to stay to 55 either. Yes it's about 12percent cut / year in the pension check, but is it worth staying for an extra $250/month (guessing at the #)?

I gave up $ leaving early, but it wasn't enough to make me think I would be eating cat food at the end of the month.